Fitch Solutions has downgraded its growth forecast for Myanmar’s construction industry, putting the blame mainly on sluggish economic reforms and the crisis in Rakhine State. Fitch Solutions Macro Research, a unit of the Fitch Group, cut its estimate on construction growth for 2017 to 10.3 percent year-on-year from 18.5 percent. Forecasts for 2018 and 2019 were also cut to 13.3 percent, from 16.5 percent, for the former, and to 13.8 percent, from 14.7 percent for 2019, according to a report in the Myanmar Times. Fitch said that Myanmar remains a “high-risk location for investment”, with ongoing security and business risks deterring foreign investment. “On top of these [political] issues, investors are concerned that required reforms to the business environment, such as boosting bureaucratic efficiency, opening up the economy to foreign participation and improving government coordination and capacity, will not move forward as quickly as planned,” it said.